PTPI on OTC

Petros Pharmaceuticals, Inc.

Petros Pharmaceuticals, Inc. is an American pharmaceutical preparations company based in New York.1 Its shares trade on OTC under the symbol PTPI.1

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Last updated Oct 20, 2026.

Overview

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  • TickerPTPI on OTC1
  • IndustryPharmaceutical Preparations1
  • HeadquartersNew York, New York1
  • Incorporated inDE2
  • Business address1185 Avenue Of The Americas, 3Rd Floor, New York, Ny 100362
  • Filer category, Emerging growth company2
  • Legal formCorporation

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In December 2024, the Company determined to discontinue sales of Stendra® to wholesalers. Beginning in March 2025, the Company is no longer engaged in the commercialization, development or sales of Stendra®. In addition, on June 16, 2025, in accordance with California state law, the Company effected an assignment (the “Assignment”) of all of the business, assets, properties, contractual rights, goodwill, going concern value, rights and claims (“Assets”) of Metuchen, including Metuchen’s wholly-owned subsidiaries, Timm Medical and PTV and each of their respective Assets (collectively, the “ABC Assets”), for the benefit of creditors to a special purpose vehicle that is managed by a third-party fiduciary (the “Assignee”) such that, as of June 16, 2025, the Assignee succeeded to all of each Subsidiary’s right, title and interest in and to the respective ABC Assets. Upon the completion of the…4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2024

76.3%Gross margin5
-90.5%Operating margin6
-280.1%Net margin6
-12.2%Revenue growth, 20245
-$2.6MFree cash flow6

Where the money goes

Where each dollar of revenue went, fiscal 2024

  • Cost of revenue14¢$1.2M
  • Research and development31¢$2.6M
  • Selling, general and admin55¢$4.6M

Out of $5.1M in revenue.56 The company lost money this year.

Financial statements

Revenue7895$5.1M in 2024−47% since 2020
0$2.5M$5.0M$7.5M$10.0M2020: $9.6M$9.6M20202021: $7.8M$7.8M2021−18%2022: $6.0M$6.0M2022−23%2023: $5.8M$5.8M2023−3%2024: $5.1M$5.1M2024−12%
Gross profit7895$3.9M in 2024−29% since 2020
0$2.0M$4.0M$6.0M$8.0M2020: $5.5M$5.5M20202021: $6.2M$6.2M2021+13%2022: $3.7M$3.7M2022−40%2023: $4.2M$4.2M2023+13%2024: $3.9M$3.9M2024−7%
Operating income78956-$4.6M in 2024−73% since 2020
-$20.0M-$15.0M-$10.0M-$5.0M02020: -$17.3M-$17.3M20202021: -$18.0M-$18.0M2021+4%2022: -$19.9M-$19.9M2022+10%2023: -$13.6M-$13.6M2023−32%2024: -$4.6M-$4.6M2024−66%
Net income78956-$14.3M in 2024−30% since 2020
-$30.0M-$20.0M-$10.0M02020: -$20.6M-$20.6M20202021: -$9.0M-$9.0M2021−56%2022: -$20.0M-$20.0M2022+123%2023: -$8.2M-$8.2M2023−59%2024: -$14.3M-$14.3M2024+75%

Every line of the income statement as filed: the last 2 fiscal years, latest first.6

Period ending2025-12-312024-12-31
Selling, general and administrative$4.6M$4.6M
Total operating expenses$4.6M$4.6M
Loss from continuing operations-$4.6M-$4.6M
Warrant issuance costs-$10.4M
Change in fair value of derivative liability$3.5M
Change in fair value of warrant liability$10.3M
Interest income$256.9K$371.8K
Total other income, net$141.3K$3.9M
Loss before income taxes-$4.5M-$705.2K
Provision for income taxes$0$0
Loss from continuing operations, net of tax-$4.5M-$705.2K
Gain from assignment of subsidiaries and Vivus settlement$7.0M
Less loss from discontinued operations-$559.7K-$13.6M
Net income (loss)$1.9M-$14.3M
Preferred stock dividend and cash premiums-$974.0K-$2.3M
Preferred stock accretion$0-$10.2M
Net loss from continuing operations attributable to common stockholders-$50.1M-$13.2M
Gain (loss) from discontinued operations attributable to common stockholders$6.4M-$13.6M
Basic - continuing operations (in dollars per share)-$2-$41
Diluted - continuing operations (in dollars per share)-$2-$41
Basic - discontinued operations, assignment and settlement$0-$42
Diluted - discontinued operations, assignment and settlement$0-$42
Basic (in dollars per share)-$1.56-$83.47
Diluted (in dollars per share)-$1.56-$83.47
Basic (in shares)28.1M shares321.0K shares
Diluted (in shares)28.1M shares321.0K shares

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Corporate structure

Petros Pharmaceuticals, Inc. sits at the top of its group. 3 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Petros Pharmaceuticals, Inc.

  • Iroquois Capital Management, LLC Filed SCHEDULE 13G/A on Petros Pharmaceuticals, Inc., latest Feb 17, 2026 (6 filings since Oct 22, 2021)
  • Ayrton Capital LLC Filed SCHEDULE 13G/A on Petros Pharmaceuticals, Inc., latest Feb 13, 2025 (3 filings since Feb 14, 2024)
  • INTRACOASTAL CAPITAL, LLC Filed SC 13G/A on Petros Pharmaceuticals, Inc., latest Nov 13, 2024 (4 filings since Feb 11, 2022)
  • John D. Shulman Filed SC 13D/A on Petros Pharmaceuticals, Inc., latest Feb 28, 2022 (2 filings since Oct 20, 2021)
  • HAYWOOD GEORGE WEAVER Filed SC 13G/A on Petros Pharmaceuticals, Inc., latest Feb 10, 2022 (2 filings since Oct 27, 2021)
  • Petros Pharmaceuticals, Inc. New York, New York
    • Metuchen Pharmaceuticals LLC Subsidiary · Delaware, United States
    • Neurotrope, Inc. Subsidiary · Nevada, United States

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Petros Pharmaceuticals, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, net$22.9K5 Dec 31, 2024$29.0K5 Dec 31, 2023−20.8%
Operating-lease assets (leased space)$113.7K5 Dec 31, 2024$226.3K5 Dec 31, 2023−49.7%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$5.1M6 Dec 31, 2025$1.7M6 Dec 31, 2024+198.9%

Intangibles and goodwill

ItemLatestA year beforeChange
Intangible assets, net (excluding goodwill)$3.2M5 Dec 31, 2024$9.0M5 Dec 31, 2023−64.3%
Finite-lived intangibles, net$3.2M5 Dec 31, 2024$9.0M5 Dec 31, 2023−64.3%

Inventory

ItemLatestA year beforeChange
Inventory, total$1.3M5 Dec 31, 2024$1.6M5 Dec 31, 2023−16.2%
Raw materials$1.3M5 Dec 31, 2024$1.4M5 Dec 31, 2023−11.6%
Finished goods$85.9K5 Dec 31, 2024$180.3K5 Dec 31, 2023−52.3%

Properties, in its own words

Our principal executive offices are located in New York, New York.

Item 2 of the 10-K filed Apr 15, 2026.4

Leadership

Who has led Petros Pharmaceuticals, Inc., and when. Pick a name to see everywhere that person has worked.

President

  1. Andrew Gesek2020–2021

Chief financial officer

  1. Keith Lavan2020
2025
Board members and other officers (5)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • DirectorBruce T. Bernstein named Oct 26, 2021 to Jul 21, 202319
  • DirectorJoshua N. Silverman named Oct 26, 2021 to Jul 21, 202319

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • Metuchen Pharmaceuticals LLC Delaware3
  • Neurotrope, Inc. Nevada3

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Timeline

  1. Sep 30, 20268-K Bankruptcy or receivership; Debt or obligation accelerated; Executive or director change20
  2. Jun 18, 20268-K Executive or director change21
  3. Jun 5, 20268-K Executive or director change22
  4. Jan 2, 20268-K Executive or director change23
  5. Nov 7, 20258-K Listing notice or transfer24
  6. Sep 5, 20258-K Change of auditor25
  7. Jun 20, 20258-K Regulation FD disclosure26
  8. May 21, 20258-K Listing notice or transfer27
  9. May 2, 20258-K Listing notice or transfer; Change to shareholders' rights; Bylaws or fiscal year changed28
  10. Apr 11, 20258-K Listing notice or transfer; Change to shareholders' rights; Executive or director change29
  11. Apr 9, 20258-K Change of auditor30
  12. Feb 21, 20258-K Entered a material agreement; Other events31

Calendar

When it reported results

  1. Nov 15, 2022Reported quarterly or annual results32
  2. Aug 15, 2022Reported quarterly or annual results33
  3. Apr 4, 2022Reported quarterly or annual results34
  4. Nov 16, 2021Reported quarterly or annual results35

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

201 filings to the SEC since October 2021: 6 annual reports, 16 quarterly reports, 44 major events, 44 insider forms, 17 large holders, 4 private raises, 70 other. The latest 20:

  1. Sep 30, 20268-K EDGAR
  2. Aug 13, 202610-Q EDGAR
  3. Jun 25, 20263 OWNERSHIP DOCUMENT EDGAR
  4. Jun 18, 20268-K EDGAR
  5. Jun 8, 20264 OWNERSHIP DOCUMENT EDGAR
  6. Jun 5, 20264 OWNERSHIP DOCUMENT EDGAR
  7. Jun 5, 20264 OWNERSHIP DOCUMENT EDGAR
  8. Jun 5, 20264 OWNERSHIP DOCUMENT EDGAR
  9. Jun 5, 20268-K EDGAR
  10. May 13, 202610-Q EDGAR
  11. Apr 15, 202610-K EDGAR
  12. Mar 31, 2026NT 10-K EDGAR
  13. Feb 17, 2026SCHEDULE 13G/A EDGAR
  14. Jan 6, 20264 OWNERSHIP DOCUMENT EDGAR
  15. Jan 2, 20264 OWNERSHIP DOCUMENT EDGAR
  16. Jan 2, 20264 OWNERSHIP DOCUMENT EDGAR
  17. Jan 2, 20268-K EDGAR
  18. Jan 2, 20264 OWNERSHIP DOCUMENT EDGAR
  19. Nov 20, 202525-NSE EDGAR
  20. Nov 13, 202510-Q EDGAR

The 201 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

3 open-market trades by officers, directors and large owners since October 2021: 3 buys and 0 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Dec 22, 2021Juggernaut Partners III GP, L.P.10% ownerBuy145,773$3.43$500.0KForm 4
Nov 29, 2021Juggernaut Partners III GP, Ltd.10% ownerBuy500,000$3.00$1.5MForm 4
Oct 18, 2021SHULMAN JOHN DDirectorBuy1,661,807$1.72$2.9MForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Jul 13, 2023Raised $30 million in a private offering of equity Form D: 15 investors so far Form D
  2. Dec 22, 2021Raised $2.2 million in a private offering of equity Form D: $8.3 million offered in all Form D
  3. Nov 29, 2021Raised $3.5 million in a private offering of equity Form D: $12.8 million offered in all Form D
  4. Oct 13, 2021Filed a private offering of securities Form D: $5.9 million offered in all Form D

SEC filer profile

How Petros Pharmaceuticals, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARPetros Pharmaceuticals, Inc.1
  • CIK0001815903
  • Employer ID (EIN)85-14100584
  • Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; not a shell company4
  • Incorporated inDelaware4
  • Fiscal year endsDecember 311
  • Industry code (SIC)2834 Pharmaceutical Preparations1
  • SEC reviewing officeOffice of Life Sciences, Division of Corporation Finance1
  • Business address1185 Avenue Of The Americas, 3Rd Floor, New York, NY 100361
  • Phone973-242-00051
  • Shares outstanding42,372,260 as of Aug 15, 202611
  • Public float$1.4M as of Jun 30, 20254
  • AuditorHTL International, LLC, Houston, TX PCAOB ID 7000; no auditor attestation of internal control over financial reporting4
  • On EDGAR sinceJul 24, 20201
  • Filings257 in all: 4 (55), 8-K (50), CORRESP (19), 10-Q (17), UPLOAD (11), 3 (10), EFFECT (9), SC 13G/A (8)1
    All 42 form types

    10-K (6), DEF 14A (6), 424B3 (5), D (4), PRE 14A (4), S-1 (4), S-4/A (4), SC 13G (4), SCHEDULE 13G/A (4), 424B5 (3), S-1/A (3), S-3 (3), 8-K/A (2), ARS (2), DEFA14A (2), S-8 (2), SC 13D/A (2), SEC STAFF LETTER (2), 10-K/A (1), 10-Q/A (1), 25-NSE (1), 3/A (1), 4/A (1), 424B4 (1), 8-A12B (1), NT 10-K (1), NT 10-Q (1), POS AM (1), PRER14A (1), S-1MEF (1), S-3/A (1), S-4 (1), SC 13D (1), SCHEDULE 13G (1)

  • Latest filingsAnnual report (10-K) Apr 15, 2026
    Quarterly report (10-Q) Aug 13, 2026
    Proxy statement (DEF 14A) Mar 18, 2025
    Latest 8-K (8-K) Sep 30, 2026

Securities registered for trading

ClassSymbolExchange
None

From the cover page of the 10-K filed Apr 15, 2026 (Section 12(b) of the Exchange Act).4

Risk factors and legal proceedings

The risks Petros Pharmaceuticals, Inc. names in Item 1A of its 10-K filed Apr 15, 2026: 49 risks under these headings, as written.4

  • Risks Related to Petros’ Capital Requirements and Financing
  • Our consolidated financial statements have been prepared on a going concern basis; we must raise additional capital to fund our operations in order to continue as a going concern.
  • Petros has incurred significant losses and may continue to experience losses in the future.
  • We expect to require additional capital in the future in order to develop our products, fund operations, and otherwise implement our business strategy. If we do not obtain any such additional financing, it may be difficult to effectively realize our long-term strategic goals and objectives.
  • Any additional capital raised through the sale of equity or equity-backed securities may dilute our stockholders’ ownership percentages and could also result in a decrease in the market value of our equity securities.
  • Risks Related to Petros’ Business, Industry and Operations
  • Our focus on the development of our platform may adversely impact our operations and financial performance.
  • We are in the early development stage with no revenues from our platform and have no operating history in the broad commercialization of platforms for consumer use.
  • We defaulted on certain covenants included in the Promissory Note with Vivus that has resulted in the Obligations becoming immediately due and payable on the date of the Foreclosure Notice and the forfeiture of assets pledged as collateral under the Promissory Note.
  • The Vivus Event of Default constitutes a Triggering Event (as defined in the Certificate of Designations) pursuant to the terms of the Certificate of Designations, which may materially and adversely affect our liquidity, financial condition and results of operations.
  • Any difficulties or delays in product engineering, regulatory compliance, sales or marketing could affect Petros’ future results.
  • Our technology may be viewed as relatively new or untested, which could result in regulatory delays or disruptions in the pathway to commercialization.
The other 39 risks
  • If we fail to successfully initiate broad commercialization of, market and sell our platform cost-effectively, our sales, business, financial condition and results of operations will be negatively affected.
  • Following broad commercialization of our platform, Petros will be substantially dependent on a limited number of commercial products. Any difficulties or delays in regulatory compliance, sales or marketing could affect Petros’ future results.
  • Petros has concluded that there are material weaknesses in its internal control over financial reporting, which, if not remediated, could materially adversely affect its ability to timely and accurately report its results of operations and financial condition. The accuracy of Petros’ financial reporting depends on the effectiveness of its internal controls over financial reporting.
  • Public health crises could adversely affect our business, financial condition and results of operations.
  • Our products and information technology systems are critical to our business. Issues with product development or enhancements, IT system integration, implementation, updates and upgrades could disrupt our operations and have a material impact on our business and operating results.
  • Cyberattacks and other data security breaches could compromise our proprietary and confidential information, which could harm our business and reputation or cause us to incur increased expenses to address any such breaches.
  • Risks Related to Petros’ Personnel
  • Because Petros is a small company with limited resources, it may be unable to attract qualified personnel.
  • Petros will need to expand its operations and increase its size, and it may experience difficulties in managing growth.
  • Petros may be adversely affected by any misconduct or improper activities on the part of its individual employees or consultants.
  • Risks Related to Government Regulation and Legal Proceedings for Petros
  • Rx-to-OTC switches are part of our future growth, and may be affected by regulatory developments governing Rx-to-OTC switches.
  • We may not receive the necessary authorizations to market our platform or any future new products, and any failure to timely do so may adversely affect our ability to grow our business.
  • Ongoing changes in healthcare regulation could negatively affect our revenues, business and financial condition
  • Our products may cause or contribute to adverse medical events that we are required to report to FDA and other governmental authorities, and if we fail to do so, we would be subject to sanctions that could harm our reputation, business, results of operations, and financial condition. The discovery of serious safety issues with our products, or a recall of our products either voluntarily or at the direction of FDA or another governmental authority, could have a negative impact on us.
  • Changes in internet regulations could adversely affect our business.
  • Disruptions at the FDA, other agencies or notified bodies caused by funding shortages or global health concerns could hinder their ability to hire, retain, or deploy key leadership and other personnel, or otherwise prevent new or modified products from being developed, cleared or approved, or commercialized in a timely manner, or at all, which could negatively impact our business.
  • The misuse or off-label use of our platform may harm our reputation in the marketplace, result in injuries that lead to product liability suits or result in costly investigations, fines or sanctions by regulatory bodies, particularly if we are deemed to have engaged in the promotion of these uses, any of which could be costly to our business.
  • We may be subject to certain federal, state, and foreign fraud and abuse laws, health information privacy and security laws, and transparency laws, which, if violated, could subject us to substantial penalties. Additionally, any challenge to or investigation into our practices under these laws could cause adverse publicity and be costly to respond to, and thus could harm our business.
  • Since our platform will utilize cloud-based information systems and the exchange of information between patents and doctors, we will be subject to numerous U.S. federal and state laws and regulations related to the privacy and security of personally identifiable information, including health information.
  • Security breaches, data breaches, cyber attacks, other cybersecurity incidents or the failure to comply with privacy, security and data protection laws could materially impact our operations, patient care could suffer, we could be liable for damages, and our business, operations and reputation could be harmed.
  • Our business will expose us to potential liability for the quality and safety of our products and services, how we advertise and market those products and services and how and to whom we sell them, and we may incur substantial expenses or be found liable for substantial damages or penalties if we are subject to claims or litigation.
  • Changes in laws could negatively impact Petros’ business.
  • Petros may be subject to potential product liability and other claims, creating risks and expense.
  • Risks Related to Petros’ Intellectual Property
  • If Petros fails to protect its intellectual property rights, its ability to pursue the development of its products would be negatively affected.
  • Petros may be involved in lawsuits to protect or enforce its patents, which could be expensive and time consuming.
  • If Petros infringes the rights of third parties, it could be prevented from selling products and forced to pay damages and defend against litigation.
  • Petros may be subject to claims that its employees, consultants or independent contractors have wrongfully used or disclosed confidential information of third parties.
  • Changes in trends in the pharmaceutical and medical device industries, including changes to market conditions, could adversely affect Petros’ operating results.
  • Obtaining and maintaining patent protection depends on compliance with various procedures and other requirements, and Petros’ patent protection could be reduced or eliminated in case of non-compliance with these requirements.
  • Risks Related to Petros’ Strategic Transactions
  • Acquisitions involve risks that could result in a reduction of our operating results, cash flows and liquidity.
  • Risks Related to Our Series A Preferred Stock
  • The Certificate of Designations for the Series A Preferred Stock and the Warrants issued concurrently therewith contain anti-dilution provisions that may result in the reduction of the conversion price of the Series A Preferred Stock or the exercise price of such Warrants in the future. These features may increase the number of shares of Common Stock being issuable upon conversion of the Series A Preferred Stock or upon the exercise of the Warrants.
  • Under the Purchase Agreement we are subject to certain restrictive covenants that may make it difficult to procure additional financing.
  • Risks Related to Our Series B Preferred Stock
  • We may issue additional series of preferred stock that rank senior or equally to our Series B Convertible Preferred Stock (“Series B Preferred Stock”) as to dividend payments and liquidation preference.
  • The Series B Preferred Stock will rank junior to all our liabilities to third party creditors in the event of a bankruptcy, liquidation or winding up of our assets.
  • Risks Related to Petros’ Common Stock
  • We do not anticipate paying dividends on our Common Stock in the foreseeable future.
  • We are an “emerging growth company” and our election to delay adoption of new or revised accounting standards applicable to public companies may result in our financial statements not being comparable to those of other public companies. As a result of this and other reduced disclosure requirements applicable to emerging growth companies, our securities may be less attractive to investors.
  • Sales of a substantial number of shares of our Common Stock, or the perception that such sales may occur, may adversely impact the price of our Common Stock.
  • Our stock price may be volatile.
  • Our delisting from the Nasdaq Capital Market and transition to over-the-counter trading may adversely affect the liquidity and market price of our Common Stock.
  • Our bylaws include a forum selection clause, which may impact your ability to bring actions against us.

Legal proceedings

From time to time, we may become involved in legal proceedings or be subject to claims arising in the ordinary course of our business.

The information set forth in Note 9 Commitments and Contingencies of the Notes to Consolidated Financial Statements of this Form 10-K is incorporated by reference herein.

The opening of Item 3, Legal Proceedings.4

Sources

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